x
Breaking News
More () »

Gas prices drop 10 cents a gallon in Louisville; will the trend last?

The average price for a gallon of gas in Louisville is $3.01.

LOUISVILLE, Ky. — Editor's note: the above video is regarding the closure of a downtown Louisville gas station.

Gas prices in the Louisville area are trending back down after a spike last week.

The average price for a gallon of gas in the city is $3.01, down 10.4 cents from last week, according to GasBuddy's survey of 644 stations in Louisville. Prices are 18.5 cents higher than a month ago and unchanged from a year ago.

The average price increased over 15 cents a gallon in the previous week.

The cheapest station in the city was priced Sunday at $2.79, while the most expensive was $3.49. The national average for diesel fuel fell 2.6 cents last week to $4.06 per gallon.

"Motorists have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week. While the pause has certainly been nice, this is more like a rain delay than it is a 7th inning stretch," said Patrick De Haan, head of petroleum analysis at GasBuddy. "It's likely only a matter of time before we see the rise re-engage and prices start to head higher, but we'll take any break that we can. 

"Oil prices have shown some signs of struggling last week after coming within arms reach of $80 per barrel before falling closer to $76, but all eyes are on refiners as utilization remained seasonally weak, around 80% of capacity, meaning there's less gasoline and diesel being produced. That's why it's just a matter of time before prices collide with rising demand and start to accelerate again."

RELATED VIDEO

Before You Leave, Check This Out